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City Council Economic Vitality Committee <br />Meeting Minutes <br />May 8, 2025 <br />Page 3of6 <br />Councilmember Kern asked what is in place for developer incentivization. <br />Manager Zarate responded that a developer could apply for a BAP, the <br />existing program has rebates for some things such as building permit fees, <br />construction use tax, consumer use tax, and depending on the product it <br />might not be as much as a sales tax rebate. Staff is open to conversions <br />around other ways to incentivize for products. <br />Mayor Leh asked can you have a BAP for both for a particular location, one <br />for the developer and one for the business owner. Manager Zarate shared <br />that this has been done at Relish. <br />Public Comment: <br />Jeff Sheets, Koelbel & Company, related to their six or seven centers around <br />town shared that tenants want certainty of incentives from the outset, <br />specifically what may come through the developer so as to determine whether <br />to seek additional incentives through a program like BAP. <br />There was a short discussion regarding other incentive options, what other <br />communities are doing and business input. <br />Mayor Leh motioned for program recommendation and developer <br />consideration; seconded by Councilmember Kern <br />Mark Oberholzer, President of Louisville Downtown Business Association, <br />expressed his appreciation and thanked all for the effort. <br />Mayor Leh motioned again; motion seconded again by Councilmember Kern. <br />All in favor. <br />7. Enterprise Zone Update: <br />Manager Zarate gave an overview of the CHIPS zone and how it compares to <br />Enterprise Zones. Since Enterprise Zones are being revaluated by the State <br />this year, staff is working with their counterparts in the north metro area to <br />submit for inclusion in an Enterprise Zone. Staff has included all commercial <br />areas, except for parts of Retail Ridge and the CTC. Staff is waiting on final <br />data and the State intends to approve zones in October, effective January <br />2026. <br />The only requirement for businesses to take advantage of tax credits is that <br />they be located in the Enterprise zone. The tax credits are broad, and actions <br />are verified and state tax credits issued at the end of the year. <br />This is a broader program than CHIPS. If this is approved in an area that <br />overlaps a CHIPS zone, we can amend our CHIPS zone boundary to define it <br />apart from the boundary of the Enterprise Zone. Nothing is needed from City <br />Council for this application; all is done at Staff level and approved by <br />Economic Development Commission at the state. <br />